https://www.taxtmi.com/caselaws?id=8126 Section 14 of the Coorg Agricultural Income-tax Act, 1951 confers a statutory right to carry forward a loss in agricultural income and set it off against the following year's income, and requires the assessing authority to give effect to that adjustment. An earlier completion of the 1953-54 assessment did not justify refusal to revise it after the 1952-53 loss was finally determined and directed to be carried forward. The refusal to revise was inconsistent with the statutory scheme because it denied the assessee the benefit of the carried-forward loss, and the assessment had to be revised accordingly. en-us Thu, 03 Sep 1970 00:00:00 +0530 Sat, 28 Mar 2009 18:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8126 Section 14 of the Coorg Agricultural Income-tax Act, 1951 confers a statutory right to carry forward a loss in agricultural income and set it off against the following year's income, and requires the assessing authority to give effect to that adjustment. An earlier completion of the 1953-54 assessment did not justify refusal to revise it after the 1952-53 loss was finally determined and directed to be carried forward. The refusal to revise was inconsistent with the statutory scheme because it denied the assessee the benefit of the carried-forward loss, and the assessment had to be revised accordingly. Case-Laws Income Tax Thu, 03 Sep 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8126